hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an … initial contract has a highly significant and economically important impact on renegotiation behavior that goes beyond the …

new, matches and Pareto efficient spot renegotiation of mandated severance pay. Severance pay matters only if real wage … destruction and increase job creation and social efficiency, under very mild conditions. Efficient renegotiation implies that …

Renegotiation is a common practice in procurement auctions which allows for post-auction price adjustments and is …. Using a combination of theory and experiments, we examine the effectiveness of renegotiation at solving this problem. Our … findings demonstrate that renegotiation is rarely successful at solving the problem of sellers misestimating costs. The primary …

econometric results reveal that some renegotiation types, their frequency and their scope clearly impact the probability to see a … kind of renegotiation and the kind of contract that is considered. …

. Moreover, the borrower׳s post-renegotiation investment and financial policies are strongly associated with the covenant changes … resulting from the renegotiation. Overall, the findings imply that, even outside of default states, creditors have strong …

a refinement of subgame-perfection, known as renegotiation proofness, and the second is an aspiration-based learning …

corporate finance. Specifically, we survey evidence pertaining to incentive conflicts, control rights, collateral, renegotiation …

possibility of renegotiation, a signal’s usefulness in incentive contracting depends on its information quality, not simply on …

delegation equilibrium without renegotiation, which is used as a threat point. The equilibrium set includes joint profit …

We propose a theory of ex post inefficient renegotiation that is based on loss aversion. When two parties write a long …